The kuna is the currency of Croatia, in use since 1994 (sign: kn; code: HRK). It is subdivided into 100 lipa. The kuna is issued by the Croatian National Bank and the coins are minted by the Croatian Monetary Institute.
|hrvatska kuna (Croatian)|
|Plural||The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.|
|Freq. used||10, 20, 50, 100, 200, 500 kn|
|Rarely used||5, 1000 kn|
|Freq. used||5, 10, 20, 50 lipa, 1, 2, 5 kn|
|Rarely used||1, 2 lipa, 25 kn|
|Date of introduction||30 May 1994|
|Central bank||Croatian National Bank|
|Printer||Giesecke & Devrient|
|Mint||Croatian Monetary Institute|
|Source||Croatian Bureau of Statistics, December 2016|
|Method||CPI excluding rents and other gross fixed capital formation, lotteries and gambling, and life insurance|
The word "kuna" means "marten" in Croatian since it is based on the use of marten pelts as units of value in medieval trading. The word lipa means "linden (lime) tree", a species that was traditionally planted around marketplaces in Croatia and elsewhere in the Austro-Hungarian Empire during the early modern period.
History and etymologyEdit
During Roman times, in the provinces of upper and lower Pannonia (today Hungary and Slavonia), taxes were collected in the then highly valued marten skins. Hence, the Croatian word marturina or tax, derived from the Latin word martus ("marten"; in modern Croatian kuna). The kuna was a currency unit in several Slavic states, most notably Kievan Rus and its successors until the early 15th century. It was equal to 1⁄25 (later 1⁄50) gryvna of silver.
It has no relation to the various Slavic currencies named "koruna" (translated as kruna in Croatian) which means "crown".
In the Middle Ages, many foreign monies were used in Croatia, but since at least 1018 a local currency was in use. Between 1260 and 1380, Croatian Viceroys issued a marten-adorned silver coin called the banovac. However, the diminishing autonomy of Croatia within the Croatian-Hungarian Kingdom led to the gradual disappearance of that currency in the 14th century.
The idea of a kuna currency reappeared in 1939 when Banovina of Croatia, an autonomous province established within Kingdom of Yugoslavia, planned to issue its own money, along with the Yugoslav dinar. In 1941, when the Ustaše regime formed the Independent State of Croatia, they introduced the Independent State of Croatia kuna. This currency remained in circulation until 1945, when it – along with competing issues by the communist Partisans – disappeared with the establishment of FPR Yugoslavia and was replaced by the Yugoslav dinar.
The modern kuna was introduced on May 30, 1994, starting a transitional period from the Croatian dinar, ending on December 31, 1994. The exchange rate between dinar and kuna was 1 kuna = 1000 dinars. Since then, Croatia has been in a system of de facto currency board with a fixed exchanged rate. The kuna was pegged to the German mark from the start. With the replacement of the mark by the euro, the kuna's peg effectively switched to the euro.
The choice of the name kuna was controversial because the same currency name had been used by the Independent State of Croatia kuna, but this was dismissed as a red herring, since the same name was also in use during the Banovina of Croatia and by the ZAVNOH. An alternative proposition for the name of the new currency was kruna (crown), divided into 100 banica (viceroy's wife), but this was deemed too similar to the Austro-Hungarian krone and found inappropriate for the country which is a republic.
The self-proclaimed Serbian entity Republic of Serbian Krajina did not use the kuna or the Croatian dinar. Instead, they issued their own Krajina dinar until the region was reintegrated into Croatia in 1995.
A long-time policy of the Croatian National Bank has been to keep the fluctuations of the kuna's exchange rate against the euro (or, previously, the mark) within a relatively stable range. Since the introduction of the euro in 1999, the exchange rate between the two currencies rarely fluctuated to a substantial degree, remaining at a near constant 7.4:1 (HRK to EUR) rate. The country joined the European Union on 1 July 2013 and it plans to join the European Monetary System. The kuna is expected to be replaced by the euro, even though the initial time estimate of two to three years after joining the European Union proved too short.
In 1994, coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 lipa (Croatian word for linden or tilia tree), 1, 2, 5 and 25 kuna. The coins are issued in two versions: one with the name of the plant or animal in Croatian (issued in odd years), the other with the name in Latin (issued in even years). Overall more coins have been minted with Croatian names than with names in Latin.
Due to their low value, 1 and 2 lipa coins are rarely used. Since 2009, these coins are no longer minted, but the Croatian National Bank has stated that it had no plans for withdrawing them.
|Image||Value||Technical parameters||Description||Date of|
|1 lp||17.0 mm||0.70 g||Aluminium-Magnesium alloy||Smooth||Coat of arms, state title, indication of value||Maize, "KUKURUZ" or "ZEA MAYS", year of minting||1993||31 May 1994|
|2 lp||19.0 mm||0.92 g||Aluminium-Magnesium alloy||Smooth||Coat of arms, state title, indication of value||Grapevine, "VINOVA LOZA" or "VITIS VINIFERA", year of minting||1993||31 May 1994|
|5 lp||18.0 mm||2.50 g||Bronze plated steel||Smooth||Coat of arms, state title, indication of value||Oak branch, "HRAST LUŽNJAK" or "QUERCUS ROBUR", year of minting||1993||31 May 1994|
|10 lp||20.0 mm||3.25 g||Bronze plated steel||Smooth||Coat of arms, state title, indication of value||Tobacco plant, "DUHAN" or "NICOTIANA TABACUM", year of minting||1993||31 May 1994|
|20 lp||18.5 mm||2.90 g||Nickel-plated steel||Smooth||Coat of arms, state title, indication of value||Olive branch, "MASLINA" or "OLEA EUROPAEA", year of minting||1993||31 May 1994|
|50 lp||20.5 mm||3.65 g||Nickel-plated steel||Smooth||Coat of arms, state title, indication of value||Degenia, "VELEBITSKA DEGENIJA" or "DEGENIA VELEBITICA", year of minting||1993||31 May 1994|
|1 kn||22.5 mm||5.00 g||Nickel silver||Milled||Coat of arms, state title, indication of value||Nightingale, "SLAVUJ" or "LUSCINIA MEGARHYNCHOS", year of minting||1993||31 May 1994|
|2 kn||24.5 mm||6.20 g||Nickel silver||Milled||Coat of arms, state title, indication of value||Tuna, "TUNJ" or "THUNNUS THYNNUS", year of minting||1993||31 May 1994|
|5 kn||26.5 mm||7.45 g||Nickel silver||Milled||Coat of arms, state title, indication of value||Brown bear, "MRKI MEDVJED" or "URSUS ARCTOS", year of minting||1993||31 May 1994|
|These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.|
Commemorative coins of the Croatian kuna have been issued since 1994.
|1 lipa||Maize with inscriptions FAO (Food and Agriculture Organization of the United Nations), 1945 (year of FAO founding), 1995 (50th anniversary of FAO and issue year of coin) and fiat panis (Latin expression for "Let there be bread!")|
|2 lipe||Emblem of the Croatian Olympic Committee with inscriptions 1996 (Olympic Games year and issue year of coin), Atlanta (host city of the 1996 Olympic Games) and Olimpijske igre (Croatian for Olympic Games)|
|5 lipa||Emblem of the Croatian Olympic Committee with inscriptions 1996 (Olympic Games year and issue year of coin), Atlanta (host city of the 1996 Olympic Games) and Olimpijske igre (Croatian for Olympic Games)|
|10 lipa||Emblem of the United Nations with inscriptions Organizacija ujedinjenih naroda (Croatian for United Nations Organization), 1945 (founding year of United Nations), and 1995 (50th anniversary of United Nations and issue year of coin)|
|20 lipa||Olive with inscriptions FAO (Food and Agriculture Organization of the United Nations), 1945 (year of FAO founding), 1995 (50th anniversary of FAO and issue year of coin) and fiat panis (Latin expression for "Let there be bread!")|
|50 lipa||Emblem of the Croatian Football Federation with inscriptions Europsko nogometno prvenstvo (Croatian for European Football Championship), Engleska (Croatian for England), and 1996 (European Championship year and issue year of coin)|
|1 kuna||Emblem of the Croatian Olympic Committee with inscriptions 1996 (Olympic Games year and issue year of coin), Atlanta (host city of the 1996 Olympic Games) and Olimpijske igre (Croatian for Olympic Games)|
|2 kune||Tuna with inscriptions FAO (Food and Agriculture Organization of the United Nations), 1945 (year of FAO founding), 1995 (50th anniversary of FAO and issue year of coin) and fiat panis (Latin expression for "Let there be bread!")|
|5 kuna||Images commemorating the 500th anniversary of the printing of the Breviary of Senj in 1494|
|25 kuna||28 May 1997 commemorating the peaceful reintegration of the Srem-Baranja Oblast in Croatia|
|24 June 1997 commemorating the Esperantist congress|
|27 October 1997 commemorating the accession of Croatia to the United Nations|
|26 June 1998 commemorating the EXPO in Lisbon|
|29 December 1999 commemorating the introduction of the euro in EU|
|27 November 2000 commemorating the year 2000.|
|15 January 2002 commemorating the 10th anniversary of the international recognition of independence of Croatia|
|4 August 2005 commemorating the candidacy of Croatia for accession to the EU|
|12 May 2010 commemorating yearly meeting of EBRD in Zagreb|
|3 December 2012 commemorating the Accession treaty of Croatia to the EU|
|1 July 2013 commemorating the accession of Croatia to the EU|
|7 October 2016 commemorating the 25th anniversary of the independence of Croatia|
|22 May 2017 commemorating the 25th anniversary of the accession of Croatia to the United Nations|
The notes were designed by Miroslav Šutej and Vilko Žiljak, and all feature prominent Croatians on front and architectural motifs on back. The geometric figures at lower left on front (except the 5-kuna note) are intaglio printed for recognition by the sight-impaired. To the right of the coat of arms on front is a microprinted version of the Croatian national anthem, Lijepa naša domovino (Our Beautiful Homeland). The overall design is reminiscent of Deutsche Mark banknotes of the fourth series.
The first series of notes was dated 31 October 1993. The 5, 10 and 20 kuna notes from this series were withdrawn on 1 April 2007, and the 50, 100 and 200 kuna notes were withdrawn on 1 January 2010, but remain exchangeable at the HNB in Zagreb.
New series of notes with similar designs but improved security features were released in 2001, 2004, 2012 and 2014.
|Image||Value||Dimensions||Main Colour||Description||Date of|
|5 Kuna||122×61 mm||Green||Fran Krsto Frankopan
and Petar Zrinski
|The Old Fort and layout of the old Varaždin castle.||7 March 2001||9 July 2001|
|10 Kuna||126×63 mm||Green-Brown||Bishop Juraj Dobrila||The Pula Arena and Motovun town layout.||7 March 2001||18 June 2001|
|20 Kuna||130×65 mm||Red||Ban Josip Jelačić||The Eltz Manor in Vukovar and the Vučedol Dove.||7 March 2001||16 August 2001|
|50 Kuna||134×67 mm||Blue||Ivan Gundulić||The Old City of Dubrovnik and its Rector's Palace.||7 March 2002||25 November 2002|
|100 Kuna||138×69 mm||Orange||Ban Ivan Mažuranić
and the Baška tablet
|St. Vitus Cathedral in Rijeka and its layout.||7 March 2002||3 June 2002|
|200 Kuna||142×71 mm||Brown||Stjepan Radić||The old General Command building in Osijek and layout of the City-fortress of Tvrđa.||7 March 2002||12 August 2002|
|500 Kuna||146×73 mm||Olive green||Marko Marulić||Diocletian's Palace in Split and
the motif of Croatian ruler from 11th century.
|31 October 1993||31 May 1994|
|1000 Kuna||150×75 mm||Blue-Red-Grey||Ante Starčević||Statue of King Tomislav and the Zagreb Cathedral.||31 October 1993||31 May 1994|
|Commemorative issues in circulation|
|10 Kuna (10th Anniversary)||126×63 mm||Green-Brown||Bishop Juraj Dobrila||The Pula Arena and Motovun town layout.||24 May 2004||30 May 2004|
|20 Kuna (20th Anniversary)||130x65 mm||Red||Ban Josip Jelačić||The Eltz Manor in Vukovar and
the Vučedol Dove.
|These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.|
|Current HRK exchange rates|
|From Google Finance:||AUD CAD CHF EUR GBP HKD JPY USD|
|From Yahoo! Finance:||AUD CAD CHF EUR GBP HKD JPY USD|
|From XE:||AUD CAD CHF EUR GBP HKD JPY USD|
|From OANDA:||AUD CAD CHF EUR GBP HKD JPY USD|
|From fxtop.com:||AUD CAD CHF EUR GBP HKD JPY USD|
- "Consumer price indices, December 2016" (Press release). Croatian Bureau of Statistics. January 16, 2017. Retrieved 2017-02-20.
- Brozović, Dalibor. "History of Croatian money". Retrieved 2011-01-01. - Excerpts from the book Kune and lipe - Currency of the Republic of Croatia, Zagreb, Croatian National Bank
- Povijest hrvatskog novca, Section 3 Archived October 22, 2006, at the Wayback Machine., Croatian National Bank compilation from multiple sources
- "Prvi novac - Povijest hrvatskog novca - Kraljevina SHS i Nezavisna Država Hrvatska" (in Croatian). Croatian National Bank. Archived from the original on 2003-04-21. Retrieved 2011-01-01.
- Granic 2008, p. 100.
- Milinović, Ante (2001). "Bogatstvo likovne simbolike hrvatskoga novca" [The rich visual symbolism of Croatian currency]. Croatian Emigrant Almanac (in Croatian). Croatian Heritage Foundation. Archived from the original on 2011-05-21. Retrieved 2011-01-01.
- Croatian Government and Croatian National Bank decisions published in Narodne novine 37/94 
- "Monetary policy and ERM II participation on the path to the euro". Speech by Lucas Papademos, Vice President of the ECB at the tenth Dubrovnik economic conference, in Dubrovnik. European Central Bank. 2004-06-25.
- "Vujčić: uvođenje eura dvije, tri godine nakon ulaska u EU". Poslovni dnevnik (in Croatian). HINA. 1 July 2006. Retrieved 2011-01-01.
statements made by Boris Vujčić, deputy governor of the Croatian National Bank, at the Dubrovnik economic conference, June 2006
- "Kuna lipa - Croatian portal for numismatics" (in Croatian). Retrieved 2013-02-24.
- "Otkrivamo: Trgovci zarade 2 milijuna kn godišnje ne vraćajući 1 lipu". Večernji list (in Croatian). 20 April 2015. Retrieved 20 February 2017.
- "Zadnja 1 lipa iz 2009., izrada tisuću komada 7,7 puta skuplja od vrijednosti". Glas Slavonije (in Croatian). 7 September 2015. Retrieved 2017-02-20.
- Croatian National Bank. Available at: "Archived copy". Archived from the original on 2012-01-12. Retrieved 2012-01-12.
- "Features of Kuna Banknotes". Croatian National Bank. 29 May 2014. Archived from the original on 5 July 2014. Retrieved 23 June 2015.
- "Invalid banknotes - HNB". Hnb.hr. Retrieved 26 November 2017.
- "Banknotes - HNB". Hnb.hr. Retrieved 26 November 2017.
- "Archived copy". Archived from the original on 2013-07-03. Retrieved 2013-07-05.
- Granic, Stan (December 2008). "From Fur Money to Modern Currency: The Kuna" (PDF). Review of Croatian History. IV (1): 87–109. Retrieved February 20, 2017.
- Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
- Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues. Colin R. Bruce II and Neil Shafer (editors) (6th ed.). Krause Publications. ISBN 0-87341-149-8.
- Viščević, Zlatko (2004). Kovani novac Republike Hrvatske od osamostaljenja do danas [Coins of the Republic of Croatia from Independence to the Present Day] (PDF) (in Croatian and English). ISBN 953-99817-0-0. Retrieved January 11, 2012.